Simtel buys majority ownership in ANT Power Energy

Simtel Team, a Romanian engineering and technology company, has reached an agreement on taking over the majority stake of ANT Power Energy, provider of forecasting services for photovoltaic power plants and wind turbines. The transaction is subject to approval at the Extraordinary General Meeting of Shareholders on December 28, 2021.

ANT Power Energy is a Romanian entrepreneurial company that mainly provides forecasting services for photovoltaic power plants. The forecast is made with a program developed internally by the company with a prediction rate of energy produced the next day, very close to the real one. The company also provides customer representation services in the energy markets, the latter being producers of photovoltaic and wind energy and energy suppliers. The company’s business portfolio includes over 120 power plants and six energy suppliers.

Simtel Team is considering the acquisition of a 51% majority stake in ANT Power Energy for approximately RON1.5 million (US$342,982). The amount will be paid in two installments, the first will be paid in cash immediately after the date of adoption of Simtel’s EGMS decision, which will take place on December 28, 2021. The second installment will be converted into shares issued by Simtel, which will be settled within a share capital increase carried out for this purpose. The minority stake – 49% of ANT Power Energy will be owned by the founder Adrian Tita, who will continue to be the company’s CEO.